Industry NewsMarkets & Economy

Home prices post strongest growth in 6 years

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This story has been updated to correct that the CoreLogic Pending HPI is based on multiple listing service data. The Core Logic HPI, which is a repeat sales index, is not. National home prices were up 3.8 percent from a year ago in July, the biggest annual increase since August 2006, according to data aggregator CoreLogic's home price index.Home prices were down from a year ago in 23 of the 100 largest markets tracked by CoreLogic HPI, a repeat sales index. That's four fewer markets than experienced annual price declines in June.And while the index showed national home prices are still off 27.2 percent from their April 2006 peak, the CoreLogic Pending HPI -- which is based on multiple listing service data -- predicts home prices will post month-over-month appreciation of 1.3 percent in August, as they did in July. An increase like that in August would amount to 6 percent year-over-year growth.The pace of price appreciation is moderating as markets transition to the off-s...